CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81.40% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Capital Com Australia Pty Ltd Australia (Regulated by ASIC) Capital Com UK Limited Authorised and regulated by the Financial Conduct Authority (FCA) Capital Com SV Investments Limited Cyprus / EU (Regulated by CYSEC) Capital Com Bel (Regulated by NBRB) Smart Forex Broker LLC Capital Com Stock and CFD Investing Ltd Seychelles (Regulated by FSA) Our Global Offices
google-play

Scan to Download iOS&Android APP

English العَرَبِيَّة Bahasa Indonesia Български Čeština Dansk Deutsch Eesti ελληνικά Español Français Hrvatski Italiano Latviešu Lietuvių Magyar Nederlands Polski Português Română Русский Slovenčina Slovenščina Suomi Svenska Tiếng Việt ไทย 简体中文
Also you can contact us: call +44 20 8089 7893 support@capital.com
News and Analysis News Cryptocurrencies Helium Solana migration details and timing in full
Menu

What does this mean for Helium investors?

Timings and the post-migration landscape

Helium Solana migration details and timing in full

By Raphael Sanis

13:49, 22 September 2022

Share this article
Tweet Share Post
Tags

What You Need to Know

The week ahead update on major market events in your inbox every week. Subscribe
The Helium logo displayed on a phone
Helium is scheduled to move to the Solana blockchain by the end of this year – Photo: Shutterstock
Content

Helium’s community has voted to migrate the network from the native Helium blockchain to Solana.

Helium (HNT), a mining network that powers Internet of Things and 5G, is looking to take advantage of Solana’s efficient blockchain, giving developers room to focus on the platform.

More than 6,000 community members voted for the Helium Improvement Proposal (HIP), while 1,270 others, or roughly 18%, voted against it. This saw it pass the required two-thirds threshold of votes.

HNT to USD

Helium’s move to the Solana (SOL) blockchain is said to take effect in the fourth quarter of 2022.

What does this mean for Helium investors?

HIP 70, the proposal that was recently passed, will not change the fundamentals of the network, according to Helium. However, it will bring “several benefits to the Helium Network”. Scott Sigel, chief operating officer of the Helium Foundation, said in a statement:

“We have an ambitious mission of deploying and managing wireless networks at scale, and moving to Solana allows us to do that.”

Investors are also said to have advantages from the migration, including a schedule of two million HNT tokens to be added to reward pools every year.

XRP/USD

0.44 Price
-0.190% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 21:00 (UTC)
Spread 0.00600

ETH/USD

1,324.74 Price
-2.100% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 21:00 (UTC)
Spread 5.00

BTS/BTC

0.00 Price
0.000% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 21:00 (UTC)
Spread 0.00000002

DOGE/USD

0.06 Price
-1.260% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 21:00 (UTC)
Spread 0.0007895

A blog post also said there would be more rewards for Helium hotspot owners, consistent mining, and reliability improvements to the data transfers.

Helium will also be giving validators a staking bonus during the migration. For the first seven days of the transition, validators will earn three times as much HNT.

What is your sentiment on HNT/USD?

5.1604
Bullish
or
Bearish
Vote to see Traders sentiment!

Timings and the post-migration landscape

If the migration goes smoothly, Helium will move to the Solana blockchain by the end of this year. The transition could have significant advantages for the network. Anatoly Yakovenko, chief executive of Solana Labs and co-founder of Solana, said in a statement:

“The Helium community’s vote to migrate to the Solana network is a tremendous endorsement of Solana as the foundation for the next stage of growth for the Helium ecosystem.”

A new version of the network’s wallet will be made available once the migration is complete. It will also keep the history of the original Helium blockchain.

Greater interoperability is expected post-migration. HNT holders will be able to store their tokens in other Solana-based wallets, including Phantom and Solflare.

Network users will also gain access to decentralised finance (DeFi) protocols, non-fungible token (NFT) marketplaces and other decentralised applications (dApps) on Solana. Sigel added:

“Solana has a proven track record powering some of the world’s most important decentralised initiatives and they were an obvious choice for us to partner with. Moving to the Solana blockchain allows us to focus our efforts on scaling the network as opposed to managing the blockchain itself.”

Further reading

Helium crypto currency digital payment system blockchain concept. Cryptocurrency isolated on earth night lights world map background. Vector illustration
Helium price prediction: What is helium (HNT)?
The Solana logo on a phone
Solana overtakes Ethereum in daily transactions: Can SOL price overcome network concerns?

What You Need to Know

The week ahead update on major market events in your inbox every week. Subscribe
Rate this article
•
The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

Read next

Still looking for a broker you can trust?


Join the 450.000+ traders worldwide that chose to trade with Capital.com

1. Create & verify your account

2. Make your first deposit

3. You’re all set. Start trading